Venture Debt Firm

Helping you get the resources you need for continued growth.

Our Story

River SaaS Capital LLC is the General Partner of a private debt fund, Viking Capital Fund LP, that provides debt financing to growing Software-as-a-Service businesses seeking non-dilutive capital.

The principals of the Fund have been in the leasing and finance business for over 30 years, and recognize the inherent value and stability built into the SaaS business model. Predictable high-margin revenue streams, supported by a recurring revenue operating model, are the foundation for creating defensible and scalable SaaS businesses.

Their expertise in the SaaS model is not only financial, but operational as well. As part of the underwriting process, RSC can access parent company River Capital Finance’s in-house technical resources to assess the strength of a borrower’s software as well as review the strength of the borrower’s hosting provider.

Our Team

Michael R. Kennedy, CEO

Mike Kennedy is CEO of MRK Technology, Ltd. and River Capital Finance. He began 
his business career with the Burroughs Corporation (now Unisys), before co-founding 
L.D.I. Corporation, a computer distributor and leasing company that grew to $75 million 
in sales by 1987, when it went public.

Under Mike’s leadership as President and COO, L.D.I. increased sales to $350 million by 1994, when it was acquired by NationsBank. Prior to the sale, he led a management buyout of several company divisions to form a new company called MRK Technologies. In 2000, Mike expanded again with the formation of MRK Leasing, later rebranding as River Capital Finance LLC.

Matthew R. Kennedy, President

Matt Kennedy is President of River Capital Finance (formerly MRK Leasing, LTD), where he is 
responsible for the development and implementation of high-level strategic sales plans to drive revenue and ultimately increase market share.

Matt has 18 years of business, technology, leasing and finance industry experience. He began his career at River Capital as a Senior Account Executive and soon rose to Vice President of Sales and Marketing. In 2009 he became President and Managing Member of the company.

Wendy Jarchow, Chief Investment Officer

Wendy Jarchow is Chief Investment Officer of River SaaS Capital. She leads the company’s due 
diligence and lending activities to help growing SaaS businesses fund their growth plans with 
non-dilutive capital, and manages the company’s portfolio of loans.

Wendy has over 18 years of experience working at large financial institutions and venture funds where she has held diverse business roles, including business development, risk management, access to capital, and strategic planning and implementation. Prior to joining River SaaS Capital in June 2016, Wendy was a Venture Partner at JumpStart, a Northeast Ohio Venture Development Organization where she assisted client companies with developing funding strategies and secured capital for both start-ups and scaleup businesses.

Our Service Providers

Fund Administrator:

Oakpoint Fund Services

Tom Niehaus, Managing Director


Neitzel, Luke, & Associates

Mike Salopek, CPA, Partner

General Partner & Fund Legal:

Taft Stettinius & Hollister LLP

Howard Bobrow, Partner

IP Legal:

Benesch Law

Mike Stovsky, Partner and Leader, 
Innovations, IT and IP Group

Fund Auditor:


Tom Wischmeyer, CPA, Partner

“Accessing capital is one of the biggest challenges facing young companies in the Midwest. Debt-based options from lenders like River SaaS Capital are becoming an increasingly important piece of the solution for young software startups — especially SaaS startups.”

Ray Leach CEO, JumpStart, Inc.